Anyone scalping the FTSE Futures??

Not yet, this could drop lower. I'm just glad I came away B/E. The swings are wild! Looking to buy again at 34100 or around there tbh.
 
really can't trust this drive up....seen it too many times since last week only for it to tank again.,
 
The Dow has been relentless. It has gone up 18000 points since last year. We are well overdue a retrace and this could be a golden opportunity to buy and hold for the next few years.
 
These last 2 weeks have damaged me quite a lot unfortunately. After a stellar 5 months, September has almost wiped my gains out. Very disappointed in myself but can only hold now and hope these unrealised losses don't crystalise

The moves have been so severe but I've been too emotional, I should have taken a small loss when it recovered a couple of times but I just couldn't do it.

There is no real buying coming in tonight, at these levels you would expect a sharp reaction but there hasn't been any volume behind it
 
inzimam said:
These last 2 weeks have damaged me quite a lot unfortunately. After a stellar 5 months, September has almost wiped my gains out. Very disappointed in myself but can only hold now and hope these unrealised losses don't crystalise

The moves have been so severe but I've been too emotional, I should have taken a small loss when it recovered a couple of times but I just couldn't do it.

There is no real buying coming in tonight, at these levels you would expect a sharp reaction but there hasn't been any volume behind it
Click to expand...

No way, I feel your pain Inzi. This market can tear you apart, i know because I've been there a few years ago. I took some massive losses on the Dow and I still haven't recovered fully yet. Are you comfortable with your position sizing? Are your stops too wide? You need to ask yourself these questions.
 
madharde said:
No way, I feel your pain Inzi. This market can tear you apart, i know because I've been there a few years ago. I took some massive losses on the Dow and I still haven't recovered fully yet. Are you comfortable with your position sizing? Are your stops too wide? You need to ask yourself these questions.
Click to expand...
Yes position sizes got too big and stops got too wide..in fact I committed he cardinal sin of letting losers run
 
inzimam said:
Yes position sizes got too big and stops got too wide..in fact I committed he cardinal sin of letting losers run
Click to expand...
Move stop to B/E when you have a bit of air on a run and/or reduce stop level - you can always do a discretionary re- enter, helps the psych!
Trading is all about risk management… but I’m sure you all know that as seasoned traders.
On a swing trade I keep stops wider out of market hours if I’m going to hold due to manipulation to take stop levels out, some prefer to stay flat out of hours if day trading for this reason - horses for courses.
 
MartinC-J said:
I have been paper trading the FTSE Futures for over a year now, with occasional trades live. I would like to find other FTSE Futures Traders and compare notes.

I am consistently profitable on the Sim, averaging £400 per day allowing for commissions, but to achieve this I am doing 30+ trades per day. I trade one contract only, but add more if a trend continues. My average winner is £35 and my average loser is £20. My win/loss ratio is roughly 60% winners, 40% losers.

I am a very short term trader with most trades lasting 2 to 9 minutes.

My price targets are 6 to 10 points, depending on the price action.

My stops are usually 4.5 points if entered on a limit order, or 5 pts if on a stop order.

I use direct market access trading using the Open ECry platform. You get filled at the bid or the ask, and there is no spread to pay. Most people in the UK seem to use spreadbetting to trade the FTSE cash. They pay a minimum of 0.5 points per side in spread, which costs them £10 per trade, which makes it much harder to make a profit when you are scalping. My fees are £1.81 per trade.

As for strategy, I trade reversals, continuations, pullbacks and breakouts.

With the FTSE, a 2 point move above or below the previous 5 minute candle is significant enough to signal a change of trend most of the time.

I use support and resistance from the 60 minute and daily charts, and watch the 5 min, 1 min and 50 volume charts all the time.

As soon as a reversal is in, I look for retracements to the 38%, 50% and 61.8% levels.

I don't use pivots, but I make a rough note of where they are. They work better for swing trades, and are less accurate for scalping.

A 2 point move away from a S/R or fib level is enough for me to consider a change of trend.

I use the 5 min chart to monitor trends and the 1 minute chart to time my entries.

I watch how price action moves between upper, middle and lower boly bands on the 5 min chart, to decide my bias. This mid line is critical. Below mid bb, take short entries only. Above mid bb, take longs only, unless it bounces off a strong level. Importantly, I use an 8 period setting for bolys on the 5 min chart.

Pullbacks to the 5 EMA on the 5 min chart are good entries for a steady trending market.
Pullbacks to the 5 EMA on the 1 min chart are good entries in rapidly falling/rising markets.

I trade from 8am to 11am usually, and 2:30pm to 4:15pm, UK time. In the morning, I watch the ES and FESX for confirmation of moves by the FTSE. In the afternoon, I watch the ES for trend but trade the FTSE depending on what happens with the ES.

I am trying to reduce the number of trades I take, and cherry pick which trades to take. I also and trying to run my trades longer, but when I get 10 points up I usually close and bank the profit.

I am interested to see how many others scalp the FTSE futures like me, and if they are comfortable taking so many trades in a day. Also what set ups do they use that are successful.
Click to expand...
Hello Martin. Are you still trading the FTSE?
 
madharde said:
The Dow has gone crazy again! All time highs coming soon!
Click to expand...
After we see 32k or lower
mid oct PB, who knows how big it will be this time around
have been shorting from 34960 this afternoon
closed shorts @34780, for a poss of reaction and test of 35k,
I see a possibility to go south even if 35k is tested
 
Last edited:
2be said:
After we see 32k or lower
mid oct PB, who knows how big it will be this time around
have been shorting from 34960 this afternoon
closed shorts @34780, for a poss of reaction and test of 35k,
I see a possibility to go south even if 35k is tested
Click to expand...
setting Market orders to go short from 34975. 35K and 35050
 
2be said:
setting Market orders to go short from 34975. 35K and 35050
Click to expand...

Your brave! We are no match for the Feds printing machine. I think this bull run has still got some legs to run yet until at least next year/2023
 
  • Like
Reactions: 2be
madharde said:
Your brave! We are no match for the Feds printing machine. I think this bull run has still got some legs to run yet until at least next year/2023
Click to expand...
I am not saying that DOW is or will get bearish, what I am saying that a good PB might be on cards, as a kind of catharsis, to clear the way by making space for a solid amount of points for the traditional next bullish move,
When I trade I use H4 to M30 TFs, and I close the trade if in negative territory and the market structure on M30 indicate, if in profit I look to H4 for continuation.
I am not saying go short and come back in a weeks time. DOW is still v bullish, but PBs have to happen,
 
Last edited:
You must log in or register to reply here.

Similar threads

O
Scalping
Replies
7
Views
4K
roberk
R
O
Futures scalping
Replies
10
Views
4K
neil
neil
D
Pivot Point Scalping on the ES
Replies
7
Views
7K
dancorcal
D
S
Scalping the Dow
2 3 4
Replies
67
Views
20K
Dave1971
D
O
Futures micro trading (scalping)
Replies
1
Views
3K
SuperDriveGuy
S
Top